Is cloud as transformative for the finance function as it seems?

CFOs today are navigating an increasingly complex financial landscape, with growing pressure to manage risk, drive strategic growth, and ensure compliance with ever-changing regulations.

Traditional on-premises financial systems, while reliable, often struggle to keep up with the pace of today’s demands. The rise of cloud-based financial management systems offers a solution, enabling organisations to streamline operations, improve decision-making, and scale with ease.

Cloud technology has matured significantly over the past decade, moving from a niche solution to a core component of modern business strategies. For CFOs, the question is no longer whether to adopt cloud solutions but rather how to integrate them effectively into their financial operations.

The Shift from On-Premises to Cloud Financial Systems

Traditional financial systems, particularly those hosted on-premises, come with a host of limitations. From costly hardware maintenance to delayed software updates, these systems often lack the agility required to meet today’s business needs. Cloud-based solutions, by contrast, offer scalability, flexibility, and continuous innovation without the burden of managing physical infrastructure.

For CFOs, cloud adoption means faster and more accurate financial reporting, better collaboration across teams, and the ability to respond swiftly to market changes. With cloud systems, organisations can deploy new financial management tools rapidly, enabling quicker responses to emerging challenges and opportunities. This agility is particularly important as businesses seek to maintain competitiveness in volatile markets.

Gulfsands’ Journey to the Cloud

 One example of a successful transition to cloud-based financial management comes from Gulfsands, a long-term user of Infor SunSystems. Facing the need to improve operational efficiency and prepare for future growth, Gulfsands decided to transition to Infor SunSystems Cloud. This move allowed them to streamline their financial processes and unlock significant improvements in productivity and decision-making.

With the help of Progressive TSL, a trusted Infor SunSystems partner, Gulfsands was able to enhance security, adapt to changing circumstances, and achieve notable cost savings. The transition also enabled them to future-proof their financial operations, providing the flexibility needed to scale efficiently as the business grows.

The Broader Benefits of Cloud Financial Management

Beyond individual success stories, cloud-based financial management systems offer a wide range of advantages. One of the key benefits is continuous innovation.

Unlike on-premises systems, which require manual updates and frequent downtime, cloud solutions are regularly updated with the latest features and security enhancements. This ensures that financial systems remain up to date and compliant with evolving regulatory requirements, without placing an additional burden on internal IT teams.

Scalability is another crucial advantage. Cloud solutions can be scaled up or down depending on business needs, allowing CFOs to expand financial operations without having to invest in additional infrastructure. This flexibility is particularly beneficial for organisations that operate across multiple geographies or are experiencing rapid growth.

Cost efficiency is also a major consideration. By moving to the cloud, businesses can shift from a capital expenditure model, where large upfront investments are required for hardware and software, to an operational expenditure model, where they pay for the resources they use. This frees up capital for other strategic initiatives while reducing the total cost of ownership.

Enhancing Security and Compliance

Security is often a primary concern when it comes to financial management systems, especially when sensitive data is involved. Cloud-based financial solutions, however, are designed with security as a top priority. Modern cloud platforms offer advanced features such as data encryption, automated backups, and built-in compliance tools that ensure businesses meet regulatory standards across multiple jurisdictions.

This level of security not only reduces the risk of data breaches but also provides peace of mind for CFOs, knowing that their financial systems are protected by the latest technologies. Additionally, cloud platforms often have dedicated teams of security experts who monitor for threats and implement updates in real-time, something that would be resource-intensive for most organisations to manage internally.

Another important aspect is the ability to maintain compliance with international accounting standards and local regulations. Cloud-based financial systems make it easier to adhere to evolving tax, reporting, and auditing requirements, particularly for organisations operating across multiple countries.

Preparing for the Future

 The shift to the cloud represents more than just an operational upgrade—it’s a strategic decision that can help businesses stay competitive in the long term. By adopting cloud-based financial systems, CFOs can focus on real-time insights and strategic decision-making rather than being bogged down by manual processes and outdated systems.

Infor SunSystems Cloud, offers CFOs the tools they need to automate routine tasks, generate detailed reports, and gain a clear view of their organisation’s financial health. The ability to access up-to-date financial data from anywhere also empowers teams to collaborate more effectively, making it easier to align financial operations with broader business objectives.

To find out more how cloud is disrupting financial management for the better, sign up to Infor’s on-demand webinar here.

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